Supply and demand determine the relative value of any two currencies through the foreign exchange market

Early in 2017, Thompson Company switched to a JIT (just-in-time) inventory system. Financial information for the two most recent

Nina [5.8K]

51.2 days in inventory ratio decrease as a result of the switch to the JIT system

Explanation:

Just in time (JIT) output is a process technique designed to reduce the processing cycles of production systems, as well as the reaction times of manufacturers and consumers. JIT production allows companies, while lowering costs, to manage variation in their operations.

Inventory turnover shall be calculated by the split price of products sold by average stock before days in inventory can also be determined.

Inventory turnover = 3.9 times ($624,000/160,000) in 2016 and

8.6 times ($688,000/80,000) in 2017.

Dividing 365 by stock days in every statistic results of 93.6 and 42.4 days, respectively, a decrease of 51.2 days.

7 0

3 years ago

Alpha Company manufactures computers. On July 1, Alpha had $75,000 of materials in inventory. During the month of July, the comp

Zigmanuir [339]

Answer:

$352,000

Explanation:

Alpha Company reported the following figures:

Inventory on July 1 = $75,000

Inventory on July 31 = $43,000

Purchases for the month = $320,000

Cost of Direct material used = Inventory on July 1 + Purchases for the month - Inventory on July 31

Cost of Direct material used = $75,000 + $320,000 - $43,000

Cost of Direct material used = $352,000

6 0

3 years ago

Which of the following is an integral step in a pay-and-return scheme? A. Establish a shell company. B. Misappropriate the incom

svlad2 [7]

Answer:

Letter b is correct. Misappropriate the incoming check related to returned goods and deposit the check in a bank account other than the company's.

Explanation:

A pay-and-return scheme is a scheme where an employee intentionally defrays a payment amount from a vendor, increasing that expense and reimbursing the excess amount of that payment. It can also be performed on a dual payment scheme to a vendor, and after the employee reports the error to the vendor and gets a check back, he can refund the amount.

4 0

3 years ago

On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,000. Jarden prepares a sche

Kryger [21]

Answer:

Dr Bad debt expense 28,799.40

Cr Allowance for doubtful accounts 28,799.40

Explanation:

allowance for doubtful accounts balance $14,000

$880,000 not due yet 1.2% $10,560

$350,000 1 to 30 days 1.95% $6,825

$70,400 31 to 60 days 6.45% $4,540.80

$35,200 61 to 90 days 32.50% $11,440

$14,080 over 90 days 67% <u>$9,433.60</u>

total $42,799.40

Journal entry

Dr Bad debt expense 28,799.40

Cr Allowance for doubtful accounts 28,799.40

3 0

3 years ago

On July 1 of the current year, Marcia purchases a new home and borrows $320,000. Marcia is required to pay two points on the loa

snow_lady [41]

Answer:

D) $6,400

Explanation:

To calculate the points deducted by Marcia in the current year, we use the following method

Since she collected the loan in July of the current year, there is five (5) months remaining in the current year, for Marcia to deduct any point, the will need to divide the number of month(s) remaining by the money she borrowed while we have have as;

$320,000/ 5

= $64,000

7 0

3 years ago

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